VOS: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
VOS
Largest movements
- Receivables within one year -€2.9m
down €2.9m (-96.0%), from €3.0m to €119,126
of which Other amounts receivable: -€2.6m
- Tangible fixed assets -€86,651
down €86,651 (-4.2%), from €2.0m to €2.0m
of which Land and buildings: -€86,651
- Profit (loss) carried forward -€1.8m
down €1.8m, from €316,273 to -€1.5m
- Reserves -€667,241
down €667,241 (-99.1%), from €673,047 to €5,806
of which Distributable reserves: -€667,241
- Other debts -€360,384
down €360,384 (-9.7%), from €3.7m to €3.4m
- Current portion of long-term debt -€107,542
down €107,542 (-70.7%), from €152,209 to €44,667
- Financial income -€117,855
down €117,855 (-97.1%), from €121,362 to €3,507
- Write-downs -€114,711
down €114,711 (-4150.2%), from -€2,764 to -€117,475
- Financial charges -€64,713
down €64,713 (-32.9%), from €196,617 to €131,904
- Gross operating margin -€57,845
down €57,845 (-16.4%), from €351,897 to €294,052
- Taxes -€41,276
down €41,276, from €41,271 to -€4
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €5,060,550 | €2,075,925 | -€3.0m | -59.0% |
| Fixed assets | 21/28 | €2,042,211 | €1,955,560 | -€86,651 | -4.2% |
| Tangible fixed assets | 22/27 | €2,042,211 | €1,955,560 | -€86,651 | -4.2% |
| Land and buildings | 22 | €1,371,903 | €1,285,252 | -€86,651 | -6.3% |
| Other tangible fixed assets | 26 | €670,307 | €670,307 | = | 0.0% |
| Current assets | 29/58 | €3,018,339 | €120,366 | -€2.9m | -96.0% |
| Amounts receivable within one year | 40/41 | €2,983,699 | €119,126 | -€2.9m | -96.0% |
| Trade receivables | 40 | €367,068 | €53,119 | -€313,949 | -85.5% |
| Other amounts receivable | 41 | €2,616,631 | €66,008 | -€2.6m | -97.5% |
| Cash at bank and in hand | 54/58 | €13,342 | €1,239 | -€12,102 | -90.7% |
| Deferred charges and accrued income | 490/1 | €21,298 | - | -€21,298 | |
| Total equity and liabilities | 10/49 | €5,060,550 | €2,075,925 | -€3.0m | -59.0% |
| Equity | 10/15 | €1,047,380 | -€1,405,721 | -€2.5m | |
| Contributions | 10/11 | €58,061 | €58,061 | = | 0.0% |
| Reserves | 13 | €673,047 | €5,806 | -€667,241 | -99.1% |
| Non-distributable reserves | 130/1 | €5,806 | €5,806 | = | 0.0% |
| Reserves not available under the articles | 1311 | €5,806 | €5,806 | = | 0.0% |
| Distributable reserves | 133 | €667,241 | - | -€667,241 | |
| Profit (loss) carried forward | 14 | €316,273 | -€1,469,588 | -€1.8m | |
| Amounts payable | 17/49 | €4,013,170 | €3,481,646 | -€531,524 | -13.2% |
| Amounts payable after more than one year | 17 | €91,143 | €48,446 | -€42,698 | -46.8% |
| Financial debts | 170/4 | €91,143 | €48,446 | -€42,698 | -46.8% |
| Amounts payable within one year | 42/48 | €3,922,027 | €3,407,113 | -€514,914 | -13.1% |
| Current portion of amounts payable after more than one year | 42 | €152,209 | €44,667 | -€107,542 | -70.7% |
| Trade debts | 44 | €1,913 | €383 | -€1,530 | -80.0% |
| Suppliers | 440/4 | €1,913 | €383 | -€1,530 | -80.0% |
| Taxes, remuneration and social security | 45 | €45,578 | €120 | -€45,458 | -99.7% |
| Taxes | 450/3 | €45,578 | €120 | -€45,458 | -99.7% |
| Other amounts payable | 47/48 | €3,722,327 | €3,361,943 | -€360,384 | -9.7% |
| Accrued charges and deferred income | 492/3 | - | €26,088 | +€26,088 | |
| Non-recurring operating income | 76A | €15,622 | - | -€15,622 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €86,651 | €86,651 | = | 0.0% |
| Write-downs on stocks, contracts in progress and trade receivables: additions (reversals) | 631/4 | -€2,764 | -€117,475 | -€114,711 | -4150.2% |
| Other operating charges | 640/8 | €21,905 | €46,554 | +€24,649 | +112.5% |
| Non-recurring operating charges | 66A | - | €2,603,031 | +€2.6m | |
| Gross operating margin | 9900 | €351,897 | €294,052 | -€57,845 | -16.4% |
| Operating profit (loss) | 9901 | €246,104 | -€2,324,709 | -€2.6m | |
| Financial income | 75/76B | €121,362 | €3,507 | -€117,855 | -97.1% |
| Recurring financial income | 75 | €121,362 | €3,507 | -€117,855 | -97.1% |
| Financial charges | 65/66B | €196,617 | €131,904 | -€64,713 | -32.9% |
| Recurring financial charges | 65 | €196,617 | €131,904 | -€64,713 | -32.9% |
| Profit (loss) for the period before taxes | 9903 | €170,850 | -€2,453,105 | -€2.6m | |
| Income taxes | 67/77 | €41,271 | -€4 | -€41,276 | |
| Profit (loss) for the period | 9904 | €129,579 | -€2,453,101 | -€2.6m | |
| Profit (loss) for the period to be appropriated | 9905 | €129,579 | -€2,453,101 | -€2.6m |
Source: filed annual accounts (NBB), financial years ended 30 June 2024 and 30 June 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.